Jacobs Solutions (NYSE:J) Releases FY24 Earnings Guidance

Jacobs Solutions (NYSE:J) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $7.80-8.10 for the period, compared to the consensus earnings per share estimate of $8.02.

Jacobs Solutions Stock Performance

Jacobs Solutions stock traded down $7.44 during mid-day trading on Tuesday, reaching $141.64. 777,333 shares of the stock traded hands, compared to its average volume of 638,948. The stock has a market capitalization of $17.80 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 1.57 and a beta of 0.74. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.37 and a quick ratio of 1.37. The business’s 50-day moving average is $147.46 and its 200-day moving average is $138.24. Jacobs Solutions has a 12-month low of $109.00 and a 12-month high of $154.50.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.46. The firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Jacobs Solutions had a net margin of 4.20% and a return on equity of 14.57%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.67 EPS. As a group, sell-side analysts predict that Jacobs Solutions will post 8.07 EPS for the current fiscal year.

Jacobs Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, May 24th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Thursday, May 23rd. Jacobs Solutions’s dividend payout ratio (DPR) is currently 20.71%.

Analysts Set New Price Targets

J has been the subject of several analyst reports. Argus increased their target price on shares of Jacobs Solutions from $161.00 to $174.00 and gave the stock a buy rating in a report on Thursday, March 14th. Bank of America upped their target price on shares of Jacobs Solutions from $145.00 to $152.00 and gave the stock a neutral rating in a report on Tuesday, April 2nd. Truist Financial initiated coverage on Jacobs Solutions in a research report on Thursday, March 14th. They issued a hold rating and a $154.00 price objective on the stock. Citigroup boosted their price target on Jacobs Solutions from $161.00 to $169.00 and gave the stock a buy rating in a report on Monday, April 22nd. Finally, Royal Bank of Canada boosted their target price on shares of Jacobs Solutions from $151.00 to $161.00 and gave the stock an outperform rating in a report on Wednesday, February 7th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $155.25.

Insider Buying and Selling

In related news, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $143.86, for a total transaction of $1,007,020.00. Following the sale, the insider now owns 548,138 shares in the company, valued at approximately $78,855,132.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Steven J. Demetriou sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $143.86, for a total transaction of $1,007,020.00. Following the transaction, the insider now owns 548,138 shares of the company’s stock, valued at $78,855,132.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kevin C. Berryman sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $145.31, for a total value of $217,965.00. Following the sale, the chief financial officer now directly owns 231,604 shares of the company’s stock, valued at $33,654,377.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,338 shares of company stock worth $3,618,695. Corporate insiders own 1.00% of the company’s stock.

Jacobs Solutions Company Profile

Jacobs Solutions Inc provides consulting, technical, engineering, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, Asia, Australia, New Zealand, the Middle East, and Africa. It operates through Critical Mission Solutions, People & Places Solutions, Divergent Solutions, and PA Consulting segments.